California v. Microsoft

California state Senate President Darrell Steinberg wants his constituents to know that he cares about private sector jobs—so long as the jobs belong to very tall millionaires.

The Maloof family this week agreed to sell its 65% stake in the NBA's Sacramento Kings to a Seattle-based hedge fund led by investor Chris Hansen and Microsoft CEO Steve Ballmer for $340 million. Mr. Steinberg, a Democrat from Sacramento, is none too happy...